Gold Daily and Weekly Charts; Silver Charts; 1099 Change Does Not 'Target Gold and Silver'

There was quite a bit of central bank concern over the results of the 'stress tests' for the European banks.

I will not address the tests themselves here, but let it suffice to say that they only involved the banks' trading portfolios, and not their loan portfolios, which could give you some idea of their lack of rigor. And 7 of 91 banks failed.

But the spokesmodels on Bloomberg were remarking, frequently, that the markets are pleased by the tests and the crisis is over because 'stocks are higher,' and 'gold was lower.'

The lies and market manipulation will continue until confidence is restored.


Gold Daily Chart



Gold Weekly Chart



Silver Weekly Chart



Miners (HUI) Weekly Chart